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1702 Hermosa Ave 10 Unit Apartment Building $9,995,000 ($999,500/Unit) 2.31% Cap Rate Hermosa Beach, CA 90254
INVESTMENT HIGHLIGHTS
- Rare Oceanview Income Property on Hermosa Avenue
- Complete Rehab & Renovation of Exterior & Interior in 2023, 2024 & 2025
- Priced well below Hermosa Beach condominium & single-family homes located in a high-barrier to entry market with exceptional tenant demand
- 6 Two Bedroom & 4 One Bedroom Units
- New: Roof, Plumbing, Sub-Panels, Water Heaters, Kitchens, Bathrooms, Appliances Wiring, Windows & More
- Ocean views and minutes to sand, surf & Pier Avenue’s renowned dining and retail
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$390,876
|
$70.82
|
| Other Income |
$1,709
|
$0.31
|
| Vacancy Loss |
$1,871
|
$0.34
|
| Effective Gross Income |
$390,714
|
$70.79
|
| Taxes |
$100,989
|
$18.30
|
| Operating Expenses |
$43,805
|
$7.94
|
| Total Expenses |
$144,794
|
$26.24
|
| Net Operating Income |
$245,920
|
$44.56
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $390,876 |
| Annual Per SF | $70.82 |
| Other Income | |
|---|---|
| Annual | $1,709 |
| Annual Per SF | $0.31 |
| Vacancy Loss | |
|---|---|
| Annual | $1,871 |
| Annual Per SF | $0.34 |
| Effective Gross Income | |
|---|---|
| Annual | $390,714 |
| Annual Per SF | $70.79 |
| Taxes | |
|---|---|
| Annual | $100,989 |
| Annual Per SF | $18.30 |
| Operating Expenses | |
|---|---|
| Annual | $43,805 |
| Annual Per SF | $7.94 |
| Total Expenses | |
|---|---|
| Annual | $144,794 |
| Annual Per SF | $26.24 |
| Net Operating Income | |
|---|---|
| Annual | $245,920 |
| Annual Per SF | $44.56 |
PROPERTY FACTS
| Price | $9,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $999,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 2.31% | Building Size | 5,519 SF |
| Gross Rent Multiplier | 25.5 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1953/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | R3, Hermosa Beach | ||
| Price | $9,995,000 |
| Price Per Unit | $999,500 |
| Sale Type | Investment |
| Cap Rate | 2.31% |
| Gross Rent Multiplier | 25.5 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,519 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2023 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | R3, Hermosa Beach |
AMENITIES
UNIT AMENITIES
- Balcony
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 550 - 650 |
| 2+1 | 4 | - | 670 |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 4183-010-011 | Total Assessment | $6,267,158 |
| Land Assessment | $6,151,102 | Annual Taxes | $100,989 ($18.30/SF) |
| Improvements Assessment | $116,056 | Tax Year | 2025 Payable 2026 |
PROPERTY TAXES
Parcel Number
4183-010-011
Land Assessment
$6,151,102
Improvements Assessment
$116,056
Total Assessment
$6,267,158
Annual Taxes
$100,989 ($18.30/SF)
Tax Year
2025 Payable 2026
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1702 Hermosa Ave
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